BCP stake to rise to 29.71% in Aster via NCLT-sanctioned amalgamation

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ASTERDM · price

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AI summary

Under an NCLT-sanctioned amalgamation, QualityCare India merges into Aster DM Healthcare (renamed Aster DM Quality Care). BCP, classified as promoter post-merger, will get about 2.45 crore new shares at a swap ratio of 977 shares for every 1000 held in QualityCare India. BCP stake rises from 2.69% to 29.71%. The acquisition is exempt from making an open offer under SEBI SAST Regulation 10(1)(d)(i).

Likely market impact

New share issuance will cause dilution for existing Aster DM shareholders. BCP becomes the promoter and avoids an open offer obligation.